What is Paypal, How Does It Work and How to Use it? An Overview
Paypal is a secured online service which enables both individuals
and businesses that own an email address to send and receive money
safely and quickly, with a click of a button.
This payment method can be used to shop online and it's an excellent alternative to standard credit cards.
It can also be used to transfer money from one person to another (or from a customer to a business) and vice versa, to receive payments from anyone who is interested to send someone money via the internet.
The Paypal payment process consists of 3 simple steps.
1. Select the Paypal option when checking out at an online store that you're buying from and log-in to your account.
If you haven't signed-up for the service yet, go through the registration process first and continue from there.
2. After you're logged in, you have the ability to decide how you wish to pay for the transaction: directly from your Paypal-account balance, from your bank account balance or from your registered credit card.
3. The money recipient will be paid and you will receive an email which verifies that your payment has been transferred to the other party successfully.
As you can see, the procedure is extremely uncomplicated, hassle free, fast and safe and even absolute beginners can master it within minutes and start using it for their day-to-day needs.
For your information: Paypal offers its members 3 different types of accounts: personal, premier and business.
Most common users will choose a regular personal account, which will be sufficient to answer all their needs.
However, if you need some advanced eBay tools, online merchant services or the capability to accept credit or debit cards, especially if you plan to use Paypal to collect payments for your business, you'll need a premier or a business account.